The newly signed law (12/18/15) called “Protecting Americans from New Tax Hikes Act of 2015” has some good things and some not so good ones. Again, I chuckle (because I do not want to cry) at the way our government leaders come up with catchy and, frankly, deceptive phrases to try to make ‘we, the […]
TAX AND ACCOUNTING LAST UPDATE FOR 2015, WHAT YOU MUST KNOW! I was at one of my continuing education seminars yesterday. It is becoming increasingly clear that our government and those of the rest of the world are becoming much more intrusive and creative trying to get more money in their coffers. This, in turn, […]
Foreign Sourced Qualified Dividends and Gains If you have received foreign sourced qualified dividends and/or capital gains (including long-term capital gains, unrecaptured section 1250 gain, and/or section 1231 gains) that are taxed in the U.S. at a reduced tax rate, you must adjust the foreign source income that you report on Form 1116, line 1a. […]
Seis Consejos Clave sobre la Deducción de Oficina en el Hogar Edición Número: Consejo Tributario del IRS 2015-42SP Si usa su hogar para negocio, es posible que pueda deducir los gastos por el uso comercial de su hogar.. Si califica para la deducción puede usar el método simplificado o el regular para reclamar su deducción. […]
The IRS has provided answers to tax filing questions for individuals who have received incorrect Forms 1095-A, Health Insurance Marketplace Statements. If you were enrolled in qualifying Marketplace coverage, filed your return using information from your Form 1095-A, Health Insurance Marketplace Statement, and you later learn that the information on that form was incorrect, you […]
How to save thousands on windstorm insurance? I want to share a couple of experiences that I have had that have saved my clients thousands of dollars in windstorm insurance. One of the services that I provide is financial management of condominium and homeowner associations. When the windstorm insurance came up for renewal this year, […]
The retrofitting requirements for condominium and homeowner associations. Florida Statute 718.1085 and Florida Administrative Code 61B-23.002 disclose the retrofitting requirements for condominium and homeowner associations. By December 31, 2016, a residential condominium association that is not in compliance with the requirements for a fire sprinkler system and has not voted to forego retrofitting of such […]
” Non-profit organizations, 501 (c) 3, have their own list of state and federal requirements that must be followed to avoid being fined or possibly lose their license as a non-profit organization. One of the requirements is that they must have up to date financial statements. There are other regulations that are specific to this type […]
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